(Ahlul Bayt News Agency) - “The Arab oil money is being used to shore up the military regime precisely in order to make sure that the people of Egypt do not realize democratic freedom,” Finian Cunningham wrote in a column for Press TV.
Some Persian Gulf Arab monarchies have pledged to support the new rulers of Egypt with USD 12 billion in cash grants, central bank deposits and oil deals.
Saudi Arabia is to supply USD 5 billion, the United Arab Emirates USD 3 billion and the latest to stump up is Kuwait with a pledge of USD 4 billion.
Meanwhile, the Financial Times reported this week that US President Barack Obama has urged the rulers of Qatar and the United Arab Emirates to emphasize the need for their support to the Egyptian interim regime.
Referring to the massive financial support, the analyst noted that the move “is designed at buying off the country’s pro-democracy movement by sweetening the rule of autocrats”.
“Democracy in Egypt, and its possible contagion across the region, is anathema to the Arab dictatorial monarchs, as it is to Washington and its imperative of maximizing corporate profits,” he added.
Egypt plunged into violence after the country’s powerful military ousted the country’s first democratically-elected president, Mohammad Morsi, suspended the constitution, and dissolved the parliament on July 3.
The army declared chief justice of Egypt’s Supreme Constitutional Court, Adly Mansour, as interim president on July 4.
Since then, the new military-backed administration has intensified its crackdown on the Muslim Brotherhood, Morsi’s political party, issuing arrest warrants for many of the group's members.
On July 10, Egypt’s military-backed interim government stepped up its crackdown on the Muslim Brotherhood, ordering the arrest of its spiritual leader, Mohamed Badie and other senior figures.
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